What’s
new in the 4th REMIT Q+A from ACER?
POSTED BY AVIVHANDLER ⋅ MARCH 18, 2015
Yesterday
ACER issued the fourth version of their Questions and Answers document on
REMIT, which can be found here.
Compared to the previous version from
February, the following has been added/changed:
PPATs
vs OMPs –
REMIT contains the classification of an Organised Market Place (OMP) and a PPAT
(Professional Person Arranging Transactions). OMPs have certain requirements
that PPATs may not. Paragraph II.3.7 discusses the possible link between
the two.
Market
Participant Obligations –
Paragraph II.4.2 outlines the obligations that are activated by the
Implementing Act, which are reporting (after the relevant deadline) and
registration.
Information
on becoming an RRM –
A whole new section has been added on the registration, testing and
certification process around becoming an RRM, in section III.2 Many issues
about the mechanics of registration, and testing are contained here.
Information
on file submission and contents – paragraphs III.3.4 to III.3.9 talk about
issues related to the contents of files under certain scenarios (e.g the EIC
code to use) as well as how to break up or combine files with many trades.
Paragraph III.6.2 confirms that balancing contract reference data will not be
collected.
Inside
Information publication –
there is a bit more information about the proposed changes to the publication
of Inside Information, which currently occurs on web sites. Paragraph II.3.10
announces that further information will be published in Spring/summer 2015.
Other – Section III.8 briefly discusses
how information on the goings on at ACER in relation to REMIT may or may not be
discovered.